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Thailand’s SE Digital Approved By SEC To Operate ICO Portal

Thailand’s SE Digital Company LTD, a subsidiary of Seamico Securities Plc (ZMICO), has received approval from the Securities and Exchange Commission of Thailand to operate as an ICO portal for the tokens on Oct 8, 2019. The recent updates are visible on the website of the controlling financial services firm. 

However, as per Thailand’s security regulator, the approval depends on the caveats which the freshly approved initial coin offering (ICO) portal service platform has to follow to be in the process of facilitating the cryptocurrency industry and to be in the good books of the authorities. 

SE Digital Targeting Big

Furthermore, SE Digital is planning to introduce Thailand’s 1st investment token which would target a transaction benchmark of approx. THB 3 billion as per The Bangkok Post

Reportedly, the application for the new Digital Assets Exchange License (ERX Company Limited (ERX), has been already applied through the Thai SEC for the new trading venue by Elevated Returns, the strategic investor of ZMICO. On receiving this license, the new trading company is indicated to provide an alternate market for these tokens by 2020.

In a way, Thailand is heading towards the major transformation for the forward-looking digital economy due to the newly regulated digital capital market.

A New Page on Thailand’s Capital Market

Thailand has become one of the 1st ASEAN countries which would now on the verge of offering regulated digital tokens with the approval of SE Digital. Jesadavat Priebjrivat, SE Digital’s Chief Executive Officer has expressed his excitement while commenting on the success of an official ICO Portal. He mentioned the promotion of tokenization of traditional assets that would enable global investors to have access to complicated assets like commercial real estate and investment products. 

With this major token portal, new fundraising opportunities are expected to catch hold by the token issuers while following the regulations of SEC. Additionally, token issuers can conduct mandatory assessments like KYC, CDD, AML, and investor suitability activities. For investors’ safety SE Digital has proposed to vet the digital tokens through the due diligence process with the purpose to provide high-quality investment experience. 

SE Digital has also planned to conduct educational programs to deliver the apt knowledge of digital tokens in the Thai investment market. For this work, the portal has collaborated with several local partners, regulators, and prominent organizations, as per the post.

The good news is that different categories of investors from Thailand can invest in these digital tokens which are retail investors, institutional investors, ultra-high net worth individuals, venture capital, and private equity funds.

Image by Pete Linforth from Pixabay

Tags: Bitcoin Regulations News, Thailand, SEC, Digital Tokens, ICO, Markets, Adoption, SE Digital Company LTD, Seamico Securities, ZMICO

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